|
Report No. : |
329000 |
|
Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
YDP STEEL CO., LTD. |
|
|
|
|
Registered Office : |
265, Haean-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea, 425-852 |
|
|
|
|
Country : |
South
Korea |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
03.07.1986 |
|
|
|
|
Com. Reg. No.: |
107-81-18678 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Moulding Patterns, Moulds and Industrial Patterns |
|
|
|
|
No. of Employees : |
210 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SOUTH KOREA - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated
incredible economic growth and global integration to become a high-tech
industrialized economy. In the 1960s, GDP per capita was comparable with levels
in the poorer countries of Africa and Asia. In 2004, South Korea joined the
trillion-dollar club of world economies. A system of close government and
business ties, including directed credit and import restrictions, initially
made this success possible. The government promoted the import of raw materials
and technology at the expense of consumer goods, and encouraged savings and
investment over consumption. The Asian financial crisis of 1997-98 exposed
longstanding weaknesses in South Korea's development model, including high
debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 7%
in 1998, and then recovered by 9% in 1999-2000. South Korea adopted numerous
economic reforms following the crisis, including greater openness to foreign
investment and imports. Growth moderated to about 4% annually between 2003 and
2007. South Korea's export focused economy was hit hard by the 2008 global
economic downturn, but quickly rebounded in subsequent years, reaching over 6%
growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments
in 2011 and went into effect in March 2012. Between 2012 and 2014, the economy
experienced slow growth due to sluggish domestic consumption and investment.
The administration in 2015 is likely to face the challenge of balancing heavy
reliance on exports with developing domestic-oriented sectors, such as
services. The South Korean economy's long-term challenges include a rapidly
aging population, inflexible labor market, dominance of large conglomerates
(chaebols), and the heavy reliance on exports, which comprise about half of
GDP. In an effort to address the long term challenges and sustain economic
growth, the current government has prioritized structural reforms,
deregulation, promotion of entrepreneurship and creative industries, and the
competitiveness of small and medium enterprises.
|
Source
: CIA |
|
Company Name |
YDP STEEL CO., LTD. (Korean Company Name : “(주)와이디피”) |
|
Registered Address |
265, Haean-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea |
|
Building |
|
|
Zip Code |
425-852 |
|
Tel |
+82-31-491-3391 |
|
Fax |
+82-31-491-3341 |
|
E-mail |
ydpss@chol.com |
|
Website |
www.ydpsteel.com |
|
Trading Address |
265, Haean-ro, Danwon-gu, Ansan-si,
Gyeonggi-do, Korea (Old Address System : 9B-2, 835-5, Wonsi-dong,
Danwon-gu, Ansan-si, Gyeonggi-dㅐ, Korea) |
|
Tel |
+82-31-492-3977 |
|
Fax |
+82-31-491-3341 |
|
Other Address |
28, Mullaedong 2-ga, Yeongdeungpo-gu,
Seoul, Korea |
|
Tel |
+82-2-2677-3341 |
|
Fax |
|
|
Other Address |
580-3, Hwajeon-dong, Gangseo-gu, Busan,
Korea |
|
Tel |
+82-51-323-3556 |
|
Fax |
+82-51-324-5422 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Moulding Patterns, Moulds and Industrial Patterns |
|
Main Business |
Molds, Mold Components, Plastic Moldbase |
|
Sub
Business |
Wholesale of Basic Metals |
|
Established (mm/dd/yyyy) |
07/03/1986 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Foundry molds(23161606) |
|
Sell |
Plastic injection molds(23151514) |
|
Buy |
Form tools or toolbits(23153303) |
|
Buy |
Grinders(27111905) |
|
Buy |
Form tools or toolbits(23153303) |
|
Buy |
End mills(27112803) |
|
Buy |
Steel(11101704) |
|
Name |
Lee Kwang-Jae |
|
Address |
Suite 502-1302, 10, Burim-ro, Dongan-gu,
Anyang-si, Gyeonggi-do, Korea |
|
Date of Birth |
01/13/1953 |
|
Title |
Co-President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
500,000,000 |
||||||||||||||||||
|
Employees |
210 |
||||||||||||||||||
|
Formation |
Co., Ltd by Shares |
||||||||||||||||||
|
Bank Details |
Industrial Bank of Korea-Banwol Branch Hana Bank |
||||||||||||||||||
|
Corporate Registered No. |
110111-0431356 |
||||||||||||||||||
|
Business Registered No. |
107-81-18678 |
||||||||||||||||||
|
Permit & Licenses |
12/2010 ISO 14001 01/2005 ISO 9001 Int’l Trade No.: 393418 |
||||||||||||||||||
|
Shareholder Position |
|
||||||||||||||||||
|
Company History |
07/03/1986 Incorporated as Young Deung Po
Special Steel Co., Ltd 03/19/2004 Increased the authorized shares
to 1,000,000 shares from 120,000 shares 11/2004 Awarded US$ 10 Million Export Top
Prize 05/17/2005 Changed company name to the
present name 04/2008 Designated as a MAIN BIZ Company |
||||||||||||||||||
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Co-President & CEO |
Mr. |
Lee Kwang-Jae |
Male |
Korean |
07/03/2001 |
|
Co-President & CEO |
Mr. |
Lee Dong-Hern |
Male |
Korean |
07/03/2013 |
|
Director |
Mr. |
Lee Hyuck-Je |
Male |
Korean |
03/30/2001 |
|
Director |
Mr. |
Lee kwang-Ho |
Male |
Korean |
07/03/2013 |
|
Auditor |
Mr. |
Kim Kil-Tae |
Male |
Korean |
07/03/2013 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2014 |
111,030,250,908 |
82,227,778,623 |
6,542,314,902 |
|
2013 |
105,816,058,868 |
76,239,089,209 |
6,070,250,858 |
|
2012 |
105,811,706,313 |
69,193,134,034 |
4,027,201,031 |
|
2011 |
104,456,705,068 |
69,379,559,369 |
7,850,672,839 |
|
2010 |
100,499,135,271 |
56,707,212,230 |
7,846,592,655 |
|
Authorized Capital(KRW) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
500,000,000 |
|
Total Issued Shares |
100,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Total Assets |
82,227,778,623 |
76,239,089,209 |
69,193,134,034 |
|
Current Assets |
58,277,657,490 |
55,619,566,939 |
50,205,269,930 |
|
-Quick Assets |
48,727,477,473 |
45,829,666,798 |
41,380,882,485 |
|
-Inventories |
9,550,180,017 |
9,789,900,141 |
8,824,387,445 |
|
Fixed Assets |
23,950,121,133 |
20,619,522,270 |
18,987,864,104 |
|
-Investment |
3,635,007,606 |
3,432,839,786 |
2,836,609,086 |
|
-Tangibles |
20,016,170,127 |
16,887,859,084 |
15,760,995,618 |
|
-Intangibles |
|
|
|
|
-Others |
298,943,400 |
298,823,400 |
390,259,400 |
|
Total Liabilities |
24,246,987,698 |
24,721,541,276 |
22,548,091,969 |
|
Current Liabilities |
23,431,118,162 |
23,234,485,504 |
21,438,782,200 |
|
Fixed Liabilities |
815,869,536 |
1,487,055,772 |
1,109,309,769 |
|
Capital Stock |
500,000,000 |
500,000,000 |
500,000,000 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
58,861,484,720 |
52,343,544,818 |
46,273,293,960 |
|
Capital Adjustment |
-1,380,693,795 |
-1,325,996,885 |
-128,251,895 |
|
Total Equity |
57,980,790,925 |
51,517,547,933 |
46,645,042,065 |
|
Liab. & Shareholder’s Equity |
82,227,778,623 |
76,239,089,209 |
69,193,134,034 |
|
Current
Liabilities |
23,431,118,162 |
23,234,485,504 |
21,438,782,200 |
|
Trade Payables |
6,130,796,649 |
5,096,646,630 |
4,619,311,247 |
|
Short-Term Borrowings |
12,766,938,539 |
13,623,452,549 |
14,283,776,757 |
|
Account Payables |
2,629,508,596 |
1,509,321,744 |
1,204,176,547 |
|
Advance Receipts |
20,795,040 |
97,630,268 |
118,603,944 |
|
Withholdings |
82,612,980 |
122,094,290 |
121,561,220 |
|
Accrued Expenses |
8,592,808 |
17,960,576 |
161,647,335 |
|
VAT Withhold |
8,318,700 |
555,321,870 |
632,491,720 |
|
Accrued Income Tax |
1,333,554,850 |
1,824,757,577 |
36,113,430 |
|
Guarantee Deposit Withhold |
88,000,000 |
78,000,000 |
48,000,000 |
|
Current Portion of Long-Term Debts |
362,000,000 |
309,300,000 |
213,100,000 |
|
Fixed
Liabilities |
815,869,536 |
1,487,055,772 |
1,109,309,769 |
|
Long-Term Borrowings |
243,500,000 |
1,043,600,000 |
852,900,000 |
|
Provision for Severance & Retirement |
572,369,536 |
443,455,772 |
256,409,769 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Sales |
111,030,250,908 |
105,816,058,868 |
105,811,706,313 |
|
Cost of Sold Goods |
97,303,115,432 |
93,954,301,035 |
97,049,100,407 |
|
Gross Profit |
13,727,135,476 |
11,861,757,833 |
8,762,605,906 |
|
Selling & Admin. Expenses |
6,319,716,399 |
4,983,533,756 |
5,285,505,998 |
|
Operating Income |
7,407,419,077 |
6,878,224,077 |
3,477,099,908 |
|
Non-Operating Income |
1,779,742,294 |
2,147,859,157 |
2,175,092,815 |
|
Non-Operating Expenses |
609,218,029 |
920,507,659 |
1,227,743,959 |
|
Income Before Taxes |
8,577,943,342 |
8,105,575,575 |
4,424,448,764 |
|
Income Taxes Expenses |
2,035,628,440 |
2,035,324,717 |
397,247,733 |
|
Net Income |
6,542,314,902 |
6,070,250,858 |
4,027,201,031 |
|
Cash Flows |
|||
|
Unit : Korean Won |
As of 12/31/2014 |
As of 12/31/2013 |
As of 12/31/2012 |
|
Cash Flows from Operating |
5,765,990,041 |
3,359,249,237 |
2,780,508,116 |
|
-Net Income |
6,542,314,902 |
6,070,250,858 |
4,027,201,031 |
|
-Exp. without Cash Outflow |
3,249,294,679 |
2,256,424,833 |
3,417,660,882 |
|
-Revenue without Cash Inflows |
-18,839,541 |
-16,980,115 |
-76,235,876 |
|
-Changes in Asset/ & Liability |
-4,006,779,999 |
-4,950,446,339 |
-4,588,117,921 |
|
Cash Flows from Investing |
-5,064,390,923 |
-1,480,099,526 |
2,285,246,236 |
|
-Cash Inflow from Investing |
4,195,091,612 |
5,116,056,000 |
10,042,540,328 |
|
-Cash Outflows for Investing |
-9,259,482,535 |
-6,596,155,526 |
-7,757,294,092 |
|
Cash Flows from Financing |
-1,618,289,010 |
-1,549,314,208 |
-5,264,935,740 |
|
-Cash Inflows from Financing |
58,462,282,483 |
51,438,687,775 |
51,737,803,332 |
|
-Cash Outflows from Financing |
-60,080,571,493 |
-52,988,001,983 |
-57,002,739,072 |
|
Increase/Decrease in Cash |
-916,689,892 |
329,835,503 |
-199,181,388 |
|
Cash at the Beginning of Year |
2,662,335,241 |
2,332,499,738 |
2,531,681,126 |
|
Cash at the End of Year |
1,745,645,349 |
2,662,335,241 |
2,332,499,738 |
|
Main Products & Services |
Molds, Mold Components, Plastic Moldbase |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
DOOSAN HEAVY INDUSTRIES CONSTRUCTION CO., LTD.(194211-0000943) KISCO CORP.(194211-0094318) |
|
Customers |
YOUNGDEUNGPO SPECIAL STEEL CO., LTD.(110111-0535273) TOOL & MOLD CO., LTD.(135011-0117058) MYUNGJIN METAL CO., LTD.(180111-0506824) |
|
Competitors |
SAE HWA METAL IND. CO., LTD. 1042, SONGGOK-RI, DASAN-MYEON,
GORYEONG-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-956-8100~3 FAX:+82-54-956-8104 YKK KOREA CO., LTD. 20TH FL., INTERNATIONAL INSURANCE BLDG.,
120, NAMDAEMUNNO 5-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-3705-7900 FAX:+82-2-3705-7993 SEOKWANG HI-TECH CO., LTD. B-204, TECHNOPARK BLDG., 148, YATAP-DONG,
BUNDANG-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-707-1811 FAX:+82-31-707-1818 |
|
Cooperative Enterprise |
-Insured Company HYUNDAI MARINE & FIRE INSURANCE CO., LTD.(110111-0035893) |
|
Sales/ Unit : KRW |
2014 |
2013 |
2012 |
|
Export |
5,322,905,633 |
7,604,334,891 |
7,976,239,390 |
|
Domestic |
105,707,345,275 |
98,211,723,977 |
97,835,466,923 |
|
Total |
111,030,250,908 |
105,816,058,868 |
105,811,706,313 |
The Subject deals
with the companies in Japan.
No.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.100.94 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.